Dollar Holds Drop After Fischer Talks Rates; Copper Futures Jump

KPF Jogja - The dollar maintained declines amid speculation the Federal Reserve won’t be in a hurry to raise interest rates. Most Asian stocks fell after a retreat in the U.S., while copper gained before Chinese factory data.

The greenback was at $1.0949 per euro by 9:12 a.m. in Tokyo, after sliding more than 1 percent against the 19-nation currency on each of the past two trading days. The South Korean won and Malaysian ringgit climbed at least 0.6 percent. More shares fell than rose in the MSCI Asia Pacific Index as Japan’s Topix gauge lost 0.3 percent. U.S. equity futures were little changed after benchmark indexes retreated Monday. Copper futures jumped 2.9 percent in New York, climbing for a fourth day.

San Francisco Fed President John Williams speaks to economists in Sydney Tuesday after Stanley Fischer, the U.S. central bank’s vice chairman, said there won’t be a “smooth upward path” for rates, even with the first increase potentially warranted by late 2015. The prospect of a slower-than-estimated pace of tightening has knocked the dollar from a decade high. In Asia, gauges of March manufacturing are due for China and Japan, and Vietnam reports on inflation.

Source : Bloomberg

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:48 AM